The median unit price in Brisbane dropped 5.5 percent over the June quarter to $375,000.

Annually, unit prices are down 4.9 percent, the latest Domain State of the Market Report calculates.

Domain Group chief economist Andrew Wilson not at 3.1 percent annual house price growth is still positive, but this is the slowest growth rate recorded since 2013.

The drop of 5.5 per cent is the steepest fall in unit prices since the December 2000 quarter – and is predicted to continue as supply continues to outweigh demand.

In the Greater Brisbane area, which includes the local government areas of Moreton Bay, Ipswich, Redland City and Logan, house prices fell 0.1 per cent

Region Median price Quarter change Year change
Brisbane (C) $657,500 4.4% 1.2%
Ipswich (C) $371,000 6.3% -2.1%
Logan (C) $400,000 0% 0%
Moreton Bay (C) $445,000 1.4% -1.1%
Redland (C) $520,000 0% -0.4%

House prices in Ipswich, Moreton Bay and Redland City have all recorded drops, while Logan’s house prices are flat.

Brisbane as a city has performed slightly better, recording a 1.2 per cent rise in house prices. The median is now $657,500.

CoreLogic is not tracking the same decline.

Brisbane has the third highest 12 month home value growth among the capitals, according to CoreLogic’s latest report.

The property data firm says that in the past 12 months Brisbane’s home value has risen by 4%

The property data firm says that a rise in house values compensates a fall in unit values takes Brisbane’s annual growth rate into 2% in the June quarter.

Melbourne and Sydney take the top two spots with a home value growth of 16% and 13% respectively.Screen Shot 2017-07-17 at 12.12.17 pm

 


The Brisbane housing market reported another modest result for house price growth over the September quarter. Its median house price increased by just 0.8% to $497,143 with annual prices up by 3.6%. With the market remaining largely subdued, it is likely that Brisbane house price growth this year will be well below the 6.5% recorded over 2014.

Brisbane unit prices fell by 0.6%over the September quarter to $362,737, a drop year-on-year of 5.6%.

“This was the fifth consecutive quarter of falling unit prices in Brisbane. With high levels of new apartment construction entering the market over the past year, supply has pushed well ahead of demand.”

 

Negotiation tactics that work

Domain is back with its “Australia’s number one property app” adverts, but it’s taken five months for the property site to fire back, following a battle with News Corp which ended in Federal Court action.

Advertisements

About ljgrealestate 据联大

Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
This entry was posted in Australia, Brisbane, ECONOMY FINANCE BUSINESS LJGREALESTATE RENTALS PROPERTY SALES PROPERTY INVESTOR PROPERTY MANAGEMENT, family, finance, LJ Gilland Real Estate Pty Ltd, ljgrealestate, Maintenance Renovating tips Construction Home Staging Property Sales Property Management Property Investor Builders Developers Rentals Sales Tenance, Negative Gearing, property investor, propertymanagement, Queensland, Real Estate, rentals, rentals sales, sales and tagged . Bookmark the permalink.